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Search Results 0 to 49 of about 72 (some duplicates have been removed)
Mar 8, 2011 7:00pm PST
are the stories in tonight's "n.b.r. newswheel." bank of america sparked confidence on wall street-- the dow rose 124 points, the nasdaq added 20, and the s&p 500 was up 11. trading volume fell back below a billion shares on the nyse, and came in under two billion shares on the nasdaq. bank of america says no to new acquisitions. instead, the bank wants to focus on returning value to shareholders. at its first investor day conference since the financial crisis, c.e.o. brian moynihan said he'll do that through cost cuts, dividends and share buybacks. no word yet on an emergency meeting by opec. oil ministers are holding informal talks, but they haven't decided yet to call an emergency meeting addressing rising oil prices and escalating violence in member country libya. still ahead-- with more americans cooking at home, housewares are hot. we get the latest from the annual home and housewares show in chicago. >> susie: as we just reported, stocks surged higher today. it may be hard to believe the dow is now sitting comfortably above 12,000. there is some debate on wall street about whether the bull
Mar 23, 2011 7:00pm PDT
, which was held down by bank of america. b. of a. was the biggest loser of the dow industrials, after acknowledging the federal reserve rejected its plan to increase its stock dividend. that rejection cost b. of a. shareholders over 1.5% today. bank of america was paying out 64 cents per share per quarter before the financial crisis. currently it pays shareholders one penny a quarter. director of research at k.b.w., fred cannon, thinks b. of a. may have been too aggressive in wanting to hike its dividend for the fed's tastes. he doesn't expect much of a hike at all this year. >> we think it may be a penny or two a share. if they have a dividend this year, it's going to be something relatively deminimus-- something like citigroup did, and not at all like what we saw the significant increases we saw at j.p. morgan wells fargo and u.s. bancorp. >> reporter: those three did raise their dividends with the federal reserve's blessing. citi fell two cents. j.p. morgan was up a fraction, holding on to its recent gains since announcing its dividend hike. and u.s. bancorp slipped a penny. again,
Mar 14, 2011 6:30pm EDT
says that's because america's economic rebound remains on course. >> the u.s. economy is at a stage in the business cycle where it is actually accelerating to the upside. events in japan will not derail that acceleration, and therefore with the u.s. economy demanding more the rest of the world will be lifted by that. >> reporter: in 2010 japan's total output of goods and service ran at $5.7 trillion. a hefty number by world standards, but still only a third of u.s. g.d.p. for other experts, it's simply too early to say how much of an impact friday's disaster will have on economies around the world. the devastation struck the northeast region of japan, which by some estimates accounts for 7% to 8% of the nation's g.d.p. experts say it's likely to take years to rebuild that area. what worries economist bob brusca is what we don't yet know about what comes out of the area's plants or factories. >> the question is beyond that whether there is anything made in this region that is specific or unique to industries that the world now is going to be without. there are semiconductor plants in
Mar 9, 2011 7:00pm PST
in the u.s. government. america is still strong and the economy is growing, and we have perhaps 30 or 40 billion dollars worth of u.s. treasury bills. but those are shorter maturity obligations. so the argument really that we have is really a one of valuation. we simply think that longer dated treasury yields, and to cite a few examples, two-year at 70 basis, and five-year treasuries at 2% plus or minus simply are not reflective of where they should be or eventually going. if yields in longer dated segments then prices move lower. so it's not a negative thing in terms of the u.s., it's simply a overevaluation in terms of price. >> susie: so what would make you a buyer again? where would you have to see the yields on these various bonds? >> well, historicly, susie, let's take a 10-year treasury, today they had an auction, a yield of around 3.5%. historicly when the u.s. economy is growing in nominal terms, that means real growth plus inflation, close to 5%, which is what it's doing now, the 10-year treasury has yielded about 5%. now it means that it's yielding 1.5% less than it should. an
Mar 17, 2011 7:00pm PDT
emphasize emerging asia, and i like korea in particular. i would emphasize latin america where i like brazil in particular. >> susie: all right that was the question i was going to ask you. you jump add head of me i was talking to a money manager today who was saying that he is less worried about japan and more worried about what's going on in the middle east in libya and bahrain and with oil prices. does that concern you? do you agree with what he is saying? >> oh, of course. if oil were to suddenly become unavailable and prices were to spike, say back to where they were three years agoing when they hit roughly 150 dollars a barrel f that were to happen overnight t would strike a pretty tough blow if he world economy and world market. but if all we have is more of the same and i do think that's what's more likely, just more of the same anxieties, but nothing dramatically changes, then i think we'll cope with it. as long as we have time to adjust to gradually higher oil prices rather than to have to deal with suddenly sharply higher prices overnight. >> susie: now, stu, some people are still
Mar 4, 2011 7:00pm PST
're not anorexic and walk to work. i know that's not america. but the fact of the matter is, these core prices are much more important overall, and the food and energy prices have some permanent elements to them but they also are some temporary elements. i think we're going to see the worst of the pressure go away. i don't think it's going to mount and i don't think inflation will be an issue. but there will be wage erosion, at least through the third quarter of this year. >> susie: where do you see the unemployment rate by the end of this year? it's 8. the 9% now. bob, you first. >> well i think we could see it almost down to 8%. i think these jobs are going to begin to ramp up. i think we're going to see a lot of progress and i don't think labor force participation rates are going to rise very sharply in the early part of the. >> susie: mark, what's your prediction? >> well, i think it's going to be slow going on the unemployment rate for the remainder of year. even if we get a lot more jobs because there are a lot of folks out there that will come back into the workforce. but by the end of
Mar 28, 2011 7:00pm PDT
of expectations thanks to soft business in north america. that hurt other hotel operators. hyatt, starwood and wyndham each dropped by about 5% or more. meantime, radioshack saw some buying today. it has been a tough 12 months for r-s-h. shares had been as high as $24 and below $14 earlier this month. they jumped 5% today. big volume. tomorrow radioshack said it will start selling apple's ipad 2. it will be the largest retailer yet to sell the tablet. while we hear from the president tonight about libya, oil services giant schlumberger today said the mid-east turmoil has had significant revenue disruptions, but the japanese earthquake business impact has been minimal. still, it cut its first-quarter earnings outlook by up to a dime per share. that didn't hurt the stock though. in fact, shares were up 4%, back above $90 for the first time in three weeks. saudi arabia has called on big oil service companies to help boost its production capacity. that may have led to some buying. finally, one to watch tomorrow may be shirt maker phillips van- heusen. shares were as much as 2.5% above this clo
Mar 15, 2011 7:00pm PDT
.e.o. of the lumina foundation. >> america is home to some of the most productive and successful businesses in the world. recent government data shows that u.s. productivity is at the highest level in many years. but one place where productivity is lagging is in the hallowed halls of our great colleges and universities. now, productivity may not be a word you automatically associate with higher education. and yet, productivity is consistent with the loftier goals of academia. higher education productivity is about making the system more efficient, more innovative, and more cost-effective. we need a more productive higher education system because the u.s. needs a lot more college- qualified people to power our economy. and research shows that the public wants this. some states are working hard to increase productivity by paying for results, embracing new course and program delivery models, and making campus operations much more efficient. but the work must continue, because one thing we know for sure is that if companies, or colleges, don't meet the challenge, competitors will find openings
Mar 18, 2011 7:00pm PDT
almost 3%. bank of america shares, though, were up just a fraction. it did not request permission from the fed to raise its dividend. caterpillar continued adding to recent gains. we're looking at a 90-session chart. this week, caterpillar was the best performing dow jones industrial component. the most recent low came a day before the japanese disaster. today caterpillar said global dealer sales were up 59% in the three months ending in february. cigarette maker lorillard popped 11% on seven times its usual volume even though a food and drug administration panel said removing menthol cigarettes from the u.s. market would help public health. the panel did not recommend banning menthols though. about 90% of lorillard's sales are from menthol cigarettes. starbucks is the latest consumer company to raise prices. shares were active even though they moved very little. its hiking grocery store coffee bean prices by 12%, blaming speculators. and just one new stock this week. cornerstone on-demand priced at $13 per share. but since its first trade was over $19, the stock closed down today. cor
Feb 28, 2011 7:00pm PST
up from south america. buyer barbara ergo shows me one of many bills she recently got. >> the freight bill for the product for 122 pieces cost $424.40. the fuel surcharge that's on it is $110.34. >> reporter: wow. that's a lot. >> it's huge. it's 26%. >> reporter: just as business was starting to pick up speed for companies like phillip's, pump prices-- climbing toward $4 a gallon-- threaten to put the brakes on it. big shippers like airlines and trucking companies are getting around higher fuel prices by passing them partly onto customers. that's dealing a double whammy to smaller companies like phillp's. it's not only paying higher shipping costs, but spending a lot more to gas up its own delivery trucks. chairman and c.i.o. jim phillip doesn't think business is brisk enough to hike prices to his customers, so he's cutting costs where he can. >> we do work very hard to manage our delivery costs, so we use technology like cell phones, g.p.s., computerized address checking to try to keep our other costs under control so we don't have to pass them along. >> reporter: mesirow financial
Mar 29, 2011 7:00pm PDT
plant, tokyo electric on america's nuclear power growth until new safety guidelines are put in place. in japan, meantime, lucy craft reports the owner of the fukushima power plant may soon be under management, the japanese government. >> reporter: reports here say the government may temporarily nationalize tepco, which is confronting tens of billions of dollars in compensation to residents, fishermen and farmers who have been dislocated by the radiation disaster. a government takeover would ensure the company could meet those obligations, analysts say. the complex operation to stabilize fukushima's six damaged and leaking reactors could drag on for weeks. this weekend, trace plutonium turned up on the site, raising more alarm. tepco is the region's largest utility, and provides power to a third of japan's population, but with most of its nuclear power and other energy plants sidelined by the earthquake, tokyo is confronting huge power shortages, especially this summer. the nationalization rumors-- discounted by japanese officials-- sent tepco shares to their lowest level in almost 50
Mar 30, 2011 7:00pm PDT
of that was in the remarks. >> tom: for every us barrel, america impotrs two foreign one.s >> susie: the president wants to see a million electric vehicles cruising our highways within the next five years. those plug-ins could help reduce our reliance on crude oil, but they could also stress the nation's power grid. austin, texas, is one the first u.s. cities to get electric cars, but as diane eastabrook reports, austin is making sure it can keep the lights on while still charging its cars. >> reporter: mike legatt recently traded in a hybrid for an electric plug-in. the austin, texas psychologist is excited about his new chevy volt, but he also knows the new technology could put pressure on the power grid. >> i hope that one of the things that will happen as part of the electrification of fleet vehicles and general driving... is that as we move into that world, people are going to become more aware of the electricity around them in keeping the grid up and reliable. >> reporter: experts say the first adopters of electric vehicles are very likely to have similar socioeconomic backgrounds, and they may ev
Search Results 0 to 49 of about 72 (some duplicates have been removed)